Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

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1500 questions
55
votes
12 answers

Is insurance worth it if you can afford to replace the item? If not, when is it?

I am talking here exclusively about insurance for items (not for health or other type of insurance where lives and liability are at risk). Let's say I have a 1-year old Macbook (costs $2000+tax new) and the warranty is about to expire. Apple gives…
Daniel Benedykt
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7 answers

What is the best asset allocation for a retirement portfolio, and why?

Based on financial conversations I've had with trusted family members, I believe that asset allocation is one of the more critical things to "get right" during retirement savings. Based on an aggressive investing portfolio and timeline, where can I…
CrimsonX
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2 answers

Why do banks “park” their money at the European Central Bank?

I regularly read that the European Central Bank charges a negative interest rate on money that banks park there. But why would a bank put their money to the Central Bank then? Can't they just keep it in their own bank and not have to pay that…
Martin Ueding
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55
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6 answers

Will I lose my paid-in-full property?

I paid cash for the land I put a modular home on which I financed. My husband is terminally ill and I am afraid I will soon be foreclosed upon. Will I lose my free and clear land which has been paid for in cash years ago? It is owned by us and we…
user84632
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55
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10 answers

Is it true that real estate prices mainly go up?

My father once told me that real estate was a good business because the population is always going up, therefore more housing is needed, and the space on earth remains the same, so house/apartment prices go up. Is this true? Edit: Maybe population…
SushiCraft 99
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55
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11 answers

Should I take out a loan for a friend to invest on my behalf?

A family friend of mine is an accountant and his company allows him to buy discount shares. He is asking me for $7000 to invest, and we will split the profits 50-50. I don't have $7000, but I can get it as a loan with a much lower interest rate…
Mirror318
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55
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10 answers

What dissuades people from lying about where they live in order to reduce state income taxes?

Lets say you work in Chicago and live in Chicago but put your home address as somewhere in Indiana. Then every week you collect the mail that is being sent to you in Indiana. Wouldn't you save a lot of money assuming the taxes are lower? What…
alexcioby122
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5 answers

Am I right to believe this online car-purchase opportunity is a scam?

I was looking to purchase a specific car at autoscout24.com. I found it and I then contacted the car dealer for the next steps. After they provided additional information about the car and I provided my details, I was told that I would receive all…
Snow
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54
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8 answers

Why is rent going up in an apartment complex with multiple units sitting unrented?

I'm moving to a new city at the end of the month and am looking for an apartment. I found a property that I like, but the rent was a little more than I wanted to pay. So I decided I would take a risk that it would be leased out and let the rent…
user1543042
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54
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8 answers

How much money should I save in order to generate $1000/month for the rest of my life?

How much money do I need to make in order to generate 1k/month for the rest of my life? Is that even possible? If yes, in what way? Edit: I am 30 years old.
samouray
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53
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9 answers

Is there a way to transfer $100 into a family member's US bank account on a daily basis?

I am trustee for an elderly relative who is not financially competent, and being taken advantage of by a girlfriend. He cannot hold onto money for long, and so I need to periodically provide him small amounts of money from the trust's checking…
mbmast
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53
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4 answers

Random and anonymous `western union´money transfers into my account, is it a scam?

Two months ago I received a money transfer of around 200 € into my account from a company called Custom House Financial UK, which turns out to be an affiliate of Western Union (ie. they do money transfers). I wasn't expecting this money, nor does…
willow
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53
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8 answers

Is this broker a scam?

I was contacted by a 'broker' in January, they said they're based in Switzerland (I'm based in the UK), and they asked to invest some money (as minimum as $1000). They told me that my platform would be connected to the main one, so I will…
kenorb
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53
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4 answers

Payroll tax on wheat given as wages

We have a farm in the US, with an employee paid with wheat rather than money. He is an ordinary employee that receives a W2. My accountant said that we don't have to withhold income tax or pay either employee or employer portions of FICA tax on his…
Kyle
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53
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7 answers

Are there hidden downsides to a shorter mortgage?

It seems that 30-year mortgages are very common (standard?). If I find that the monthly payments for, say, a 10-year mortgage are affordable for me, is there any reason not to go with the shorter term so that I can reduce the amount of interest paid…
Larry Wang
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